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fhz
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Financing your MBA - International Students 25 Nov 2015, 08:21
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Hi Guys,

I have been accepted for FT MBA in AGSM at UNSW Business School in Australia. I am looking for some financing and loan options to pay a portion of fee. Are there any options which I can explore other than Prodigy (because I am PR holder and Prodigy only finances intl students).

Any experiences and guidance would be highly valued. Looking forward to your responses.

Cheers
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Financing your MBA - International Students 25 Nov 2015, 08:22
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rboscarIol
Hi everyone, let me add some new information into this topic.

I am an international MBA student, currently on my first year at Michigan Ross, where up until recently there was no loan option for internationals. And, as you know, private financing institutions usually require US co-signers, so this is frequently a problem to most of us.

But now, Prodigy Finance is offering possibility of loans to international students at Ross and many other schools without requiring an US co-signer.
The loans are funded by a community of alumni investors, and by other investors who wish to support higher education.

I am taking a loan from Prodigy, and I am also an ambassador of the program, so I will be more than happy to share more information with you.

Here goes some quick info about Prodigy:
- 150 nationalities covered
- Competitive interest rates
- No collateral, guarantees, or co-signers required
- Easy online process
- No repayments while you study
- Excellent customer service

Currently, Prodigy has programs at Cambridge Judge Business School, Cass Business School, Columbia Business School, Cranfield School of Management, ESMT, INSEAD, London Business School, Manchester Business School, Oxford Saïd Business School, and Vlerick Business School. And they are expanding and adding new programs, so please check the website!
Show more

Hi Guys,

I have been accepted for FT MBA in AGSM at UNSW Business School in Australia. I am looking for some financing and loan options to pay a portion of fee. Are there any options which I can explore other than Prodigy (because I am PR holder and Prodigy only finances intl students).

Any experiences and guidance would be highly valued. Looking forward to your responses.

Cheers
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Financing your MBA - International Students 29 Nov 2015, 17:55
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I agree with andreyjv that the Prodigy loan process is straightforward. The rates are quite competitive without any collateral.
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Financing your MBA - International Students 29 Nov 2015, 19:42
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A couple of questions for loans:

I noticed that for most of the top US schools, Prodigy funds up to 80% of the cost of attendance, which is similar to other programs offered by the schools. Can I borrow (assuming I'm approved), 80% from Prodigy and 20% from another loan program?

Similarly, are there loan options for people with US based co-signers that will cover the full cost of attendance?
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Financing your MBA - International Students 09 Dec 2015, 14:24
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am17
I agree with andreyjv that the Prodigy loan process is straightforward. The rates are quite competitive without any collateral.
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Since I am not eligible for Prodigy, are there any other institutions offering such loans?
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Financing your MBA - International Students 10 Dec 2015, 07:20
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Does anyone have experience with Discover Student Loans? They require a co-signer but you can get up to 100% of the cost of attendance loaned. However, this page: https://www.discover.com/student-loans/ ... ional.html says:

Quote:
You may need to send us a copy of your passport and one of the following documents for loan approval. We will notify you when we need them during the application process.
F-1 Visa
H1-B Visa
J-1 Visa
L-1 (L1A or L1B) Visa
Form DS-2019
Form I-20
Form I-766
Form I-797
Show more

Given that I'll need to show capability to pay for the costs of the MBA when I apply for a student visa, how likely is it for Discover to require those docs (they mention that they MAY require but not WILL require). If they do require those docs, it's a chicken and egg situation where I can't get Discover approval without a visa and I can't get a visa without loan approval.

I've emailed them a couple of times but I just get robo responses and no clear answer
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Financing your MBA - International Students 10 Dec 2015, 13:14
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Does anyone have experience with Discover Student Loans? They require a co-signer but you can get up to 100% of the cost of attendance loaned. However, this page: https://www.discover.com/student-loans/ ... ional.html says:

Quote:
You may need to send us a copy of your passport and one of the following documents for loan approval. We will notify you when we need them during the application process.
F-1 Visa
H1-B Visa
J-1 Visa
L-1 (L1A or L1B) Visa
Form DS-2019
Form I-20
Form I-766
Form I-797

Given that I'll need to show capability to pay for the costs of the MBA when I apply for a student visa, how likely is it for Discover to require those docs (they mention that they MAY require but not WILL require). If they do require those docs, it's a chicken and egg situation where I can't get Discover approval without a visa and I can't get a visa without loan approval.

I've emailed them a couple of times but I just get robo responses and no clear answer
Show more


This will be something that will fall on the shoulders of your co-signer to break through to try to convince them to approve or at least pre-approve the loan.
This issue has existed for as long as I can remember and I am surprised it has not been resolved yet. However, if you have a US co-signer you have a good availability of options to apply for. You can also check SoFi, M7 Financial, and Prodigy Finance to compare quotes options and amount of headache (which may end up the deciding factor)
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Financing your MBA - International Students 11 Dec 2015, 00:04
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jmikery
Does anyone have experience with Discover Student Loans? They require a co-signer but you can get up to 100% of the cost of attendance loaned. However, this page: https://www.discover.com/student-loans/ ... ional.html says:

Quote:
You may need to send us a copy of your passport and one of the following documents for loan approval. We will notify you when we need them during the application process.
F-1 Visa
H1-B Visa
J-1 Visa
L-1 (L1A or L1B) Visa
Form DS-2019
Form I-20
Form I-766
Form I-797

Given that I'll need to show capability to pay for the costs of the MBA when I apply for a student visa, how likely is it for Discover to require those docs (they mention that they MAY require but not WILL require). If they do require those docs, it's a chicken and egg situation where I can't get Discover approval without a visa and I can't get a visa without loan approval.

I've emailed them a couple of times but I just get robo responses and no clear answer


This will be something that will fall on the shoulders of your co-signer to break through to try to convince them to approve or at least pre-approve the loan.
This issue has existed for as long as I can remember and I am surprised it has not been resolved yet. However, if you have a US co-signer you have a good availability of options to apply for. You can also check SoFi, M7 Financial, and Prodigy Finance to compare quotes options and amount of headache (which may end up the deciding factor)
Show more

Thank you bb, just a small follow up: is SoFi available for international students? Their eligibility page (https://www.sofi.com/eligibility-criter ... bility-mba) states: "You and your co-signer (if applicable) is a US citizen or permanent resident" so I hadn't been considering them because the requirement is "and" and not "or"
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Financing your MBA - International Students 12 Dec 2015, 02:57
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Any student loans for MBA in Australia?
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Financing your MBA - International Students 15 Apr 2016, 03:15
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Hello,
For international students without co signer ,which colleges provide loans ?

Taking for example if I have a loan of 50% of my tuition fees from prodigy, which colleges provide loans to cover at least rest of tuition costs?

Can any of the admitted students of current students please share their experiences in this area?

Thanks.
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Financing your MBA - International Students 26 Apr 2016, 10:40
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Hi,

Does anybody know if Prodigy Finance is in operation or has the company shut down?

I emailed them 4 days ago, raised a support ticket and messaged them on their Skype account, but nobody has responded.
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Financing your MBA - International Students 30 Jun 2016, 08:02
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Could someone please share more details about 'school loans'? Is it still a thing (after 6 years from the time this thread was started) ?
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Financing your MBA - International Students 30 Jun 2016, 10:58
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Has anyone taken loan from Mpower financing. Similar to Prodigy, they do not require cosigner or collateral for international students enrolled in US colleges
https://www.mpowerfinancing.com/
I have to decide between Prodigy and Mpower, so trying to identify anyone who has already secured a loan with them to get a review of their loan product.
Any help in this regard would be truly appreciated.
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Financing your MBA - International Students 30 Jun 2016, 12:44
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This is going to be a huge thing forever...

Try to ask alumni or use Admission consultants that actually used these services. I financed my tuition and living expenses with Quorum (Wharton).

A very important thing to have in mind... You do get some income on your internship, and that helps more than you think. Same with some TA that you can have during your two years at school.
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Financing your MBA - International Students 15 Sep 2016, 01:11
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Most schools offer generous scholarships and convenient, affordable loans. In leading programs, the number of students receiving financial aid from the school itself often exceeds 50%. It is important to note that scholarships are not especially prevalent, and one is more likely to be granted one at a business school that is ranked between 20-50 in the U.S. and Europe. It is important to note that as a school is ranked higher, their process for merit-based scholarships becomes more selective and more challenging.
For more information and resources on MBA financial aid please visit: https://aringo.com/mba-scholarships/
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Financing your MBA - International Students 03 Nov 2016, 03:18
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Hi guys,

I am arun from India, with a GMAT score of 710 CGPA 3.7 and 4 yrs of sales and marketing workex in the Automobile idustry

An MBA in the TOP universties in US costs around USD90,000. with the H1B lottery system in place for international students and an OPT period of onlt 12 months for an MBA GRAD, is it really worth risking the lottery system and go for an MBA in the UNITED STATES
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Financing your MBA - International Students 27 Dec 2016, 18:24
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Thanks for the update mate ! i would like to know more about this one
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Financing your MBA - International Students 28 Dec 2016, 21:57
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aroon31400
Hi guys,

I am arun from India, with a GMAT score of 710 CGPA 3.7 and 4 yrs of sales and marketing workex in the Automobile idustry

An MBA in the TOP universties in US costs around USD90,000. with the H1B lottery system in place for international students and an OPT period of onlt 12 months for an MBA GRAD, is it really worth risking the lottery system and go for an MBA in the UNITED STATES
Show more

These threads may partially answers your questions .....
job-prospects-of-international-students-after-mba-in-us-231042.html
international-students-employed-3-months-after-graduation-by-school-231395.html
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Financing your MBA - International Students 18 Apr 2017, 02:24
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Has anyone dealt with MBA loans for international (not EU, USA) students in UK? I am applying for Chevening scholarship, but it covers tuition only up to 18 th. GBP, so if I get it, I will still have to finance the balance (17-35 th. GBP). Is it realistic to get a loan for it?
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Financing your MBA - International Students 07 Dec 2017, 18:07
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Can anyone shed light on cosigner eligibility? As in who would fit the role of a cosigner and who wouldn't.

I have members from my maternal family working in the US for close to a decade now, would they be eligible to fulfill the role of a cosigner, if required, even if they're not US citizens?

Another thing I'd like to enquire about is if there is a salary-cap based eligibility of any form for US based cosigners?
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